ETH appears that it might be topping out and a drop could be in store. However, this could be a bit premature. I'll be waiting for divs to set in on the daily chart, like in early March, and similar patterns should also formulate on the four hour chart. Look for a drop and another move up over the next seven to nine days. This would, coincidentally, line up with the closure of the DAO crowdsale which is seemingly providing the catalyst for this up move.
Comment
⋅
This is beginning to play out as expected. Price has dropped and reverse bull divergence has formed. I'm thinking we'll see another move up where stops get taken out above the recent high. I have not yet entered a trade, but I'll be looking to short the next bounce assuming I get the look I want out of the momentum indicators.
Comment
⋅
I should add that I'm seeing this divergence on the four hour chart.
Comments
Azzo
⋅
Agree with you, but crowndsourcing world record explosion by some line of code in the ethereum blockchain show to the world the power and growth perspective of this technologic rocket.
According to last day stats (slacknation.github.io/medium/8/8.html). Mass isn't buying The DAO as before value DAO token rising begin.
eddicus_rex
⋅
Thanks, I appreciate the link. The drop could be because the reward structure for the DAO just dropped the past two days. I think DAO purchases will wane in the next few days but I imagine there should be a ramp up before the crowdsale completes. Of course, if folks can get DAO cheaper on an exchange then that would change the dynamic. Eventually those in the DAO are going to have to liquidate their ETH holdings. I'm not sure how much buy support there will be after the DAO completes. Volume on ETH purchases are also beginning to drop. We'll see.
According to last day stats (slacknation.github.io/medium/8/8.html). Mass isn't buying The DAO as before value DAO token rising begin.